AXQ Capital LP grew its stake in Rocket Companies, Inc. (NYSE:RKT - Free Report) by 125.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,691 shares of the company's stock after acquiring an additional 81,695 shares during the period. Rocket Companies accounts for 0.7% of AXQ Capital LP's holdings, making the stock its 9th biggest holding. AXQ Capital LP's holdings in Rocket Companies were worth $1,652,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently modified their holdings of RKT. Jones Financial Companies Lllp grew its position in shares of Rocket Companies by 131.7% in the 4th quarter. Jones Financial Companies Lllp now owns 36,427 shares of the company's stock worth $410,000 after buying an additional 20,706 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Rocket Companies by 11.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,163,243 shares of the company's stock worth $13,098,000 after purchasing an additional 122,534 shares during the last quarter. Quantbot Technologies LP increased its position in shares of Rocket Companies by 76.9% during the fourth quarter. Quantbot Technologies LP now owns 270,761 shares of the company's stock worth $3,049,000 after purchasing an additional 117,728 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Rocket Companies by 324.4% during the 3rd quarter. Victory Capital Management Inc. now owns 67,161 shares of the company's stock valued at $1,289,000 after purchasing an additional 51,336 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Rocket Companies during the 3rd quarter valued at $1,486,000. Institutional investors own 4.59% of the company's stock.
Rocket Companies Price Performance
RKT traded down $0.18 on Wednesday, reaching $13.21. 5,037,051 shares of the company's stock were exchanged, compared to its average volume of 3,442,341. The stock has a market cap of $26.36 billion, a PE ratio of -82.53 and a beta of 2.39. The company has a debt-to-equity ratio of 1.51, a current ratio of 15.47 and a quick ratio of 15.47. Rocket Companies, Inc. has a twelve month low of $10.06 and a twelve month high of $21.38. The stock's fifty day moving average price is $13.28 and its 200-day moving average price is $14.48.
Rocket Companies Cuts Dividend
The company also recently declared a dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Thursday, March 20th. Rocket Companies's payout ratio is 801.25%.
Analysts Set New Price Targets
A number of equities research analysts have commented on the company. Morgan Stanley decreased their price target on Rocket Companies from $16.00 to $13.00 and set an "equal weight" rating for the company in a research note on Thursday, December 19th. JPMorgan Chase & Co. decreased their price objective on shares of Rocket Companies from $14.00 to $10.50 and set an "underweight" rating for the company in a research report on Tuesday, January 14th. Wedbush reissued a "neutral" rating and set a $13.00 target price on shares of Rocket Companies in a research report on Wednesday, March 5th. The Goldman Sachs Group cut their price target on shares of Rocket Companies from $16.00 to $14.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 7th. Finally, UBS Group upgraded shares of Rocket Companies from a "sell" rating to a "neutral" rating and lowered their price objective for the stock from $12.50 to $11.50 in a research note on Friday, January 10th. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $13.83.
Check Out Our Latest Report on Rocket Companies
About Rocket Companies
(
Free Report)
Rocket Companies, Inc, a fintech holding company, provides mortgage lending, title and settlement services, and other financial technology services in the United States and Canada. It operates through two segments, Direct to Consumer and Partner Network. The company's solutions include Rocket Mortgage, a mortgage lender; Amrock that provides title insurance, property valuation, and settlement services; Rocket Homes, a home search platform and real estate agent referral network, which offers technology-enabled services to support the home buying and selling experience; and Rocket Loans, an online-based personal loans business.
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